Personal remittances to Fiji increase by 7.3 per cent to $521.0m in the first 10 months of this year, the Reserve Bank of Fiji has reported.
For the month of October alone, personal remittances totaled a record $69.0m, which represented a 29.5 per cent increase over the previous month, and an increase of 58.7 per cent over October in 2019.
In its economic review for the November month-end, the Reserve Bank of Fiji said overall, remittances had performed well above expectations and contributed positively to foreign reserves.
In its quarterly review issued in September this year, the RBF had noted that cumulative to September 2020, inward personal remittances increased by 2.3 per cent to $452.1m.
This compares to a 4.8 per cent ($442.1m) growth noted in the corresponding period in 2019.
